On Thursday evening, as rumors swirled concerning an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true for a lot of people. It is one of the outlets where one can locate fact-based and mostly dependable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Element: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” foe.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of Continued Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.
The Fundamental Issue and a Way Ahead
Regardless of the resolution with this particular battle, the underlying crisis remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the newest acquisition battle.
